Brentwood-based Comdata purchased for $3.45B

Brentwood-based company Comdata is being purchased by global payments solution company FleetCor Technologies Inc. for nearly $3.5 billion.

Comdata is an electronic payment company that features a full suite of products that includes electronic payment, fleet management and health care payment solutions.

Comdata has been a part of parent company Ceridian LLC, which is selling Comdata for a total of $3.45 billion — including $2.4 billion in cash and 7.3 million shares of FleetCor common stock.

“Together, Comdata and FleetCor will create a broader, highly complementary payments business with many strong growth opportunities in the near and long term,” Comdata CEO Stuart Harvey said in a prepared statement.

The deal, which is subject to regulatory approval, is expected to close in December. ​

Comdata provides fleet and corporate payment solutions to more than 20,000 customers. In 2013, Comdata managed over 625 million cards and processed over 1.4 billion transactions from over 48 countries and in 37 currencies. The company has more than 1,300 employees and enables more than $54 billion in payment volume each year.

Reach Shelley DuBois at 615-259-8241 and on Twitter at @shelleydubois.

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